AUD/CAD 700 Pips Bargain: AUSSIE's Plight Deteriorates FurtherFundamentals :
The China Factor : Australia's economy is intimately linked to trade with China.
(1) China's lack of demand for iron ore as their economy undergoes a recession.
" Disaster looming in Australian economy as iron ore demand falls " (Daily Telegraph: www.dailytelegraph.com.au )
www.imf.org
fred.stlouisfed.org
markets.businessinsider.com
(2) Deterioration of China's economy due to a zero-covid strategy
(3) China's property sector is cooling
(4) Aussie's Housing data becomes " haunting ": stockhead.com.au
Technicals :
Past support becoming future resistance
Weekly BBT
Monthly BBT
Hit Bollinger Band 2nd Deviation in a slightly ranging market with a downward slope
Medium-term trend direction is downward
dHd
